Shares of International Game Technology PLC (NYSE:IGT – Get Rating) have received a consensus “Buy” rating from the seven brokerages that currently cover the company, Marketbeat Ratings reports. Five investment analysts gave the stock a buy rating. The 12-month average price target among analysts who have covered the stock over the past year is $35.00.
A number of research companies have weighed in on IGT recently. Jefferies Financial Group upgraded International Game Technology from a “hold” rating to a “buy” rating and lowered its price target for the stock from $30.00 to $26.00 in a Thursday research note May 12. StockNews.com downgraded International Game Technology from a “hold” rating to a “buy” rating in a Tuesday, August 16 research note. Truist Financial lowered its price target on International Game Technology from $36.00 to $30.00 and set a “buy” rating for the company in a Wednesday, July 20 research note. Stifel Nicolaus lowered his price target on International Game Technology from $36.00 to $26.00 in a Monday, August 1 research note. Finally, Deutsche Bank Aktiengesellschaft lowered its price target on International Game Technology from $35.00 to $30.00 in a Wednesday, August 3 research note.
Institutional investors weigh in on international gaming technology
Several institutional investors have recently changed their stock portfolios. Goldman Sachs Group Inc. increased its stake in shares of International Game Technology by 87.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 2,343,145 shares of the company valued at $43,488,000 after purchasing an additional 1,092,029 shares in the last quarter. Saltoro Capital LP purchased a new stake in shares of International Game Technology in Q2, valued at approximately $1,392,000. Captrust Financial Advisors increased its stake in shares of International Game Technology by 9.8% in Q2. Captrust Financial Advisors now owns 6,582 shares of the company valued at $122,000 after buying an additional 586 shares in the last quarter. Woodline Partners LP increased its stake in shares of International Game Technology by 341.9% in the second quarter. Woodline Partners LP now owns 210,783 shares of the company worth $3,912,000 after purchasing an additional 163,088 shares during the period. Finally, Paloma Partners Management Co purchased a new equity stake in International Game Technology in the second quarter for a value of approximately $245,000. 44.33% of the shares are held by institutional investors.
Performance of international gaming technology stocks
Shares of IGT opened at $20.45 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.56 and a debt ratio of 3.53. The company has a 50-day simple moving average of $19.44 and a two-hundred-day simple moving average of $22.43. The stock has a market capitalization of $4.17 billion, a price-earnings ratio of 26.56 and a beta of 1.83. International Game Technology has a 52 week low of $16.46 and a 52 week high of $32.95.
Announcing the International Gaming Technology Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 30. Shareholders of record on Tuesday, August 16 will receive a dividend of $0.20. This represents an annualized dividend of $0.80 and a dividend yield of 3.91%. The ex-dividend date is Monday, August 15. International Game Technology’s payout rate is 103.90%.
International Gaming Technology Company Profile
(Get a rating)
International Game Technology PLC operates and provides game technology products and services in North America, Europe, the Middle East, Africa, Asia-Pacific, Latin America and the Caribbean. It operates in three segments: Global Lottery, Global Gaming and Digital & Betting. The company designs, sells, operates and leases a suite of point-of-sale machines that reconciles lottery funds between the retailer and the lottery authority; provides online lottery transaction processing systems; produces instant ticket games; and offers printing services, such as instant ticket marketing plans and graphic design, programming, packaging, shipping and delivery services.
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Before you consider International Game Technology, you’ll want to hear this.
MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes hold…and International Game Technology was not on the list.
Although International Game Technology currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the five actions here